This form is a contract for a lease and a manadatory purchase of real estate. Seller demises and leases to purchaser and purchaser takes and rents from seller certain real property described in the form. Purchaser agrees not to use or permit the use of the property for an illegal purpose. An auction, fire or going out of business or bankruptcy sale, may not be conducted in the property without prior written consent of the seller.
Forfeiture Clause Real Estate In Phoenix
State:
Multi-State
City:
Phoenix
Control #:
US-00120
Format:
Word;
Rich Text
Instant download
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FAQ
Forfeiture by wrongdoing occurs when a party intentionally or wrongfully makes the declarant unavailable to testify. The party who wants hearsay evidence admitted under this exception must prove the opposing party's wrongdoing by a preponderance of the evidence.
The forfeiture rule, that no one who unlawfully kills another can share in the victim's estate or receive any other financial gain from the death, appears appropriate and immutable.
Forfeiture means the lease can be terminated and the property revert to the freeholder. This could arise if the leaseholder breaches the terms of the lease. An example could be a failure by a leaseholder to maintain their flat.
There are three types of forfeiture under federal law: criminal forfeiture, civil judicial forfeiture, and administrative forfeiture.
Arizona Forfeiture Laws Arizona laws regarding forfeiture cases, ARS 13-4301 to ARS 13-4315, list forfeiture as occurring when a law enforcement officer seizes property under the permission of a lawyer or agency of the state. Legal forfeiture is permitted when the property being seized has been used in a criminal act.
No, forfeiture is not foreclosure. If your property is in forfeiture, you still have 1 year before it will be foreclosed. However, the interest and fees will be higher.
In law, a forfeiture is the loss of rights or goods due to not fulfilling some obligation. For example, failing to make car payments to a bank can result in the forfeiture of your car. the act of losing or surrendering something as a penalty for a mistake or fault or failure to perform etc.
Forfeit or forfeiture means losing a right, privilege, or property without compensation as a consequence of violating the law, breaching a legal obligation, failing to perform a contractual obligation or condition, or neglecting a legal duty. Under federal law, there are civil, criminal, and administrative forfeitures.
This clause is similar to conditions and other qualifications of estates in land, but it is often considered void. Let's say you rent a car for a week, and the rental agreement includes a forfeiture clause. The clause states that if you return the car with any damage, you will forfeit your security deposit.